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Boat Refinancing

Just wanted to give a heads up. Interest rates are pretty good with the economy down. I just walked into Credit Union B at lunch and moved my loan to them, from Credit Union A. It made a pretty big impact in rates and I'm now sitting at 3.75%.

Just wanted to give a heads up. Interest rates are pretty good with the economy down. I just walked into Credit Union B at lunch and moved my loan to them, from Credit Union A. It made a pretty big impact in rates and I'm now sitting at 3.75%.

Purchased the boat three years ago and that is what i snagged. It ended up being a rush deal bc i had a bank try to screw me on my way to Georgia to pick up the boat. (long story but a good one)

Embarrassingly, i was too lazy and never got around to shopping it until this week.

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At that time that rate wasnt that bad bro. I know when i pulled mine on my 08 in 09 i had a score over 800 and my rate was 7.25 the absolute lowest my CU would give out. I think even now they dont give out much better but i havnt desided who to pull a loan with yet on the new boat.

I did just Refi my Diesel 3 months ago and got 3.3 shaved an entire year off the payments and the payemtn went down 20 bucks LOL. I still pay over anyhow to get her paid off faster.

I originally asked my lender to "refi", essentially asking for rate change. I asked bc the advertised prices are much lower than what i had. The response was policy this and policy that.

So i went to another credit union. Told them what i was working with (value, amount owed, years left, etc) and asked if they would want to take over the loan. They wrote a check to original credit union and i took it and paid off that note.
There was a $15 origination fee for the loan.

i threatened to do that same thing that you just did KG and my local Credit Union agreed to refinance my truck loan... I was at 6.45% and they are offering in the 3.75 range.. i walked in and asked my banker (sister in law) to refinance and she said they couldn't do it. So i went to the RBC in the next town (we only have a CU in Nokomis) and they were all over it. Even offered me a free Ipad if i was willing to switch my mortgage to. Interest rate on the mortgage was no better though. So i went back to CU to get loan payout info. and presto.... they were suddenly willing to match!! Sis in law was sour but that's not my problem!!!